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Deutsche Bank raided for second day over suspected money laundering

Criminal prosecutors have continued to raid Deutsche Bank’s offices in Frankfurt on Friday morning as they seek evidence on suspected money laundering at Germany’s largest bank, people familiar with the situation told the Financial Times.

The prosecutors suspect that the alleged misconduct at Deutsche stretched into this year. The transactions that are under scrutiny started in 2013 and were carried out in the bank’s wealth management division, a unit that came under the remit of Christian Sewing in 2015 until he was promoted to chief executive of Deutsche in April.

Suspects

The two days of raids included the executive management board’s floor at Deutsche’s twin towers in downtown Frankfurt.

Among the offices searched was the one of Sylvie Matherat, Deutsche’s chief regulatory officer, according to a source. The criminal prosecutors stressed that no executive board members were among the suspects.